real estate

Pricey Rent at Ballston Common Mall

By ARLnow.com

Interested in leasing space in Ballston Common Mall? Thanks to an item on the upcoming County Board agenda, we now know about how much it costs.

Arlington County leases a 3,119 square foot store, on the second floor near the entrance to Macy’s Furniture Gallery, to house the Woodmont Weavers program. The privately-run but publicly-funded program allows adults with cognitive disabilities to learn how to weave, to sell their creations (placemats, pillows, totes, scarves, hats, etc.) and to earn a wage in the process. The county subleases the space to St. Coletta of Greater Washington, which runs the program on behalf of the Department of Human Services, for a nominal $1 rent.

On Saturday the board is expected to approve a lease and sublease renewal for the mall storefront. According to the staff report, the base rent for the store from Nov. 1, 2011 to Oct. 31, 2012 will be $67,528.80 per year. Add in taxes and utilities, and the expected annual cost rises to $93,911.40.

In addition to the Woodmont Weavers program, the space is also subleased to Ellipse Handmade Crafts, which sells handmade items from local artists and utilizes some of the production space for classes and workshops when not in use by Woodmont. Ellipse pays the county $5,415.00 per year in rent.

We reported last year that the 25-year-old mall is in the early planning stages of a major renovation.

Photo via stcoletta.org

National Science Foundation Mulls Move to New HQ

By ARLnow.com

A major Arlington employer is thinking about packing up and moving to a new building.

The National Science Foundation currently employs about 2,100 people at its Ballston headquarters, according to a spokeswoman, but the government agency has indicated that it is potentially interested in moving to a new building when its lease expires in 2013. NSF would like the new space to be about 25 percent larger than its current location at 4201 Wilson Boulevard, and about 12.5 percent cheaper per square foot than the current comparable office rent in Ballston, according to the Washington Business Journal.

The federal government’s office rent cap in Northern Virginia is $38 per square foot, compared to the average Ballston Class A office rent of $43.47, according to WSJ. That has led to speculation that NSF might leave Ballston altogether.

“We’re going to pursue them and we’re going to pursue them aggressively,” Alexandria Vice Mayor Kerry Donley said of the agency’s impending lease expiration, to the Alexandria Times. Donley was instrumental in persuading the U.S. Patent and Trademark Office to move its headquarters from Crystal City to Alexandria in the early-to-mid 2000s.

The area’s congressional delegation, however, has asked the General Services Administration — which helps manage government properties — to strongly consider keeping NSF in Arlington.

“We urge you to take into account recent developments that we believe continue to make Arlington the ideal location for NSF Headquarters,” said a letter to the GSA’s top official, signed by Sen. Jim Webb, Sen. Mark Warner and Rep. Jim Moran.

The letter, dated February 23, 2010, argues that NSF benefits from its proximity to Ballston institutions like the Defense Advanced Research Projects Agency, the Office of Naval Research and Virginia Tech’s new Advanced Research Institute.

“Arlington County is a national epicenter for scientific research, particularly in the areas of defense and homeland security,” the letter stated. “Not only does [Ballston] provide these agencies with access to one of the most highly educated and highly trained workforces in the nation, it also provides them with immediate access to a large pool of technical experts in the contracting community as well.”

“We believe a relocation of NSF Headquarters away from Arlington would [have a] detrimental effect on the ability of each of these research organizations to achieve their agency objectives,” the letter concluded.

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Colony House Furniture to Become Hotel

By ARLnow.com

The Colony House Furniture store at 1700 Lee Highway is set to be torn down to make way for an extended stay hotel.

The recognizable building has been sold to the B.F. Saul Company, the Bethesda-based developer behind the recent Clarendon Center project. Last week representatives from Saul presented their redevelopment plan to the North Rosslyn Civic Association. Under the plan, an eight story extended stay hotel will be built on the 1.2 acre site at the corner of Lee Highway and N. Quinn Street. The hotel will include eight stories of guest rooms on top of two stories of above-ground parking.

(The parking must be built above ground since the site sits on solid rock. The building will technically be ten stories high from the Lee Highway side, but will only be considered eight stories due to the steep elevation near the rear of the site.)

Saul told residents that they’re in negotiations with two companies to operate the hotel — Marriott’s Residence Inn and Hilton’s Homewood Suites. They’re aiming for a LEED Silver certification for the building.

The company says zoning allows them to build an 88-room hotel on the site by right. Saul, however, will be seeking County Board approval later this year to build a 154-room hotel with 96 parking spaces. After presentations to the Rosslyn Business Improvement District, the North Rosslyn Civic Association, and three Colonial Village associations, Saul’s Mary Beth Avedesian says the company has yet to hear any neighbor opposition to the project.

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Arlington #39 on Highest Property Taxes List

By ARLnow.com

The average Arlington County homeowner paid $4,341 in annual property taxes between 2005 and 2009. That makes Arlington 39th on the list of highest median property taxes in the country, according to a new report by the Tax Foundation, a D.C.-based think tank.

While that figure is relatively high, Arlington’s taxes are relatively low by other measures. Arlington residents paid a median 3.46 percent of their income in property taxes, which is only the 328th highest rate in the country. The percentage of one’s home value paid in property taxes by Arlington residents between 2005 and 2009 was 0.77 percent, the 1523th highest rate in the country.

By contrast, Fairfax County was 37th on the property tax list, with an median property tax bill of $4,371 per year — $30 above Arlington. The difference is a bit more pronounced when considering the tax rate. Fairfax County homeowners paid 0.84 percent of their home’s value and 3.53 percent of their income in property taxes.

Alexandria residents paid less in property taxes — $3,827 per year — but actually paid more as a percentage of home value — 0.78 percent. In terms of income, however, Alexandria residents paid less than Arlington — 3.33 percent of income.

Montgomery County residents paid less than Arlington residents in all three categories. They paid $3,497 in property taxes, which is 0.72 percent of home values and 3.07 percent of income. D.C. residents had the best deal — an average of $1,778 paid in property taxes per year, which is 0.4 percent of home values and 1.9 percent of income.

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Mixed Signals in Local Real Estate Market

By ARLnow.com

What’s going on in the local real estate market? Depends on who you ask.

According to real estate web site Zillow, real estate list prices in Arlington were up 8.6 percent year-over-year in April, but the web site’s estimate of home values in Arlington was down 2.5 percent year-over-year as of March. That’s consistent with a nationwide downward trend, as reported by the Wall Street Journal.

According to an accounting by the Sun Gazette, home sales in Arlington are down while both average and median sale prices were down year-over-year in April. By contrast, Northern Virginia as a whole saw a continued rise in sale prices.

According to Realtor Laura Rubinchuk’s Arlington VA Real Estate News blog, however, home inventory in Arlington is down while demand and median prices are up. But, she says, there are some homes that just aren’t selling.

“I wish I had an explanation for what the heck is going on in the market right now, but I can’t seem to find a pattern,” she wrote.

Flickr pool photo by Christopher Doorley

Morning Notes

By ARLnow.com

Trail Parking — This car chose an interesting place to park — on a stretch of trail between the county’s new Dept. of Human Services building and Washington Boulevard.

Snakehead Fish Invade Four Mile Run — Predatory snakehead fish have invaded the waters of Four Mile Run, between Arlington and Alexandria. There’s concern that the so-called “frankenfish” could kill off native fish in the stream, as it has decimated native populations of bass and shad in the Potomac. [WJLA]

Marymount Names New President — Arlington’s Marymount University has named a successor for retiring president James Bundschuh. Matthew Shank, dean of the business school at the University of Dayton, will take over as president in July. [Washington Post]

Cell Phones to Get Emergency Alerts — Soon, cell phones in the D.C. area will be capable of receiving emergency alerts via text message. [New York Times]

Gaslight Square Condos Selling Quickly — McWilliams|Ballard and Abdo Development have sold nearly $12 million worth of luxury condos at the still-under-construction Gaslight Square project between Rosslyn and Courthouse. [Marketwire]

Bromptons at Cherrydale Nears Completion

By Katie Pyzyk

The long, strange trip for the project dubbed the Bromptons at Cherrydale may soon be coming to an end. The building at 3800 Lee Highway has been nearly seven years in the making, but condos there could go on sale before the start of summer.

Originally, all of the 22 condo units were under contract in 2004. But progress stalled in 2006, when the county issued a stop-work order due to the building being structurally unsound. The developer, Ed Peete Company was given the opportunity to remedy the issues or demolish the structure. After some waffling, Ed Peete chose demolition, but the deadline for that came and went in July 2008.

While this was being hashed out, the building sat vacant for years. A flurry of lawsuits followed, including those against contractors and engineers hired by Ed Peete. Ultimately the developer decided to keep the structure and reinforce it as part of a settlement reached in 2009.

Now, passing by the site provides a view of work crews buzzing in and out of the building and signs advertising the first floor retail space. Gone are the flapping sheets of plastic and insulation on the façade, the torn-up sidewalk has been replaced, and balconies have been affixed to the front of the units.

Project Manager Neil Winsten with R15, formerly the Ed Peete Company, says many improvements have been made to comply with the county’s requests of fixing issues such as stressed beams and walls. He says steel beams and support slabs have been added for reinforcement. With the new additions, Winsten believes this should be “one of the strongest buildings around.”

Winsten says he hopes the building will be finished by the end of May. The 22 condos are set to go on sale immediately after completion. Winsten says they will start looking for tenants to fill the first floor retail space around the same time.

As far as working with the county for all these years, Winsten says it has “gone pretty smoothly once we put the new plan into effect.”

Neighbors have been grumbling for years about the Bromptons project being an eyesore and dragging down property values. In response to their frustration, Winsten says, “We’re just about done so thanks for bearing with us. We haven’t wanted it to take this long either.”

Morning Notes

By ARLnow.com

Empty Courthouse Office Building for Sale — The big, white Verizon office building at 1320 N. Courthouse Road is actually vacant — and for sale. After nearly 30 years as a tenant, Verizon left its offices in the building. The owner is now seeking interested buyers or joint venture partners. [GlobeSt.com]

Westover to Hold Easter Egg Hunt — Children 9 years old and younger are invited to participate in Westover Village’s Easter egg hunt on Saturday. The event is being held from 10:00 a.m. to noon next to the Westover Library. Admission is free and yes, the Easter Bunny will be there. [VisitWestover.com]

State Senate Candidates Forum — Democratic candidates for the 30th District state Senate seat participated in their first public forum of the campaign. Del. Adam Ebbin, Alexandria City Councilman Rob Krupicka and Arlington School Board member Libby Garvey answered questions about their stance on business issues and other policy matters. [Del Ray Patch]

Morning Notes

By ARLnow.com

Route 50 Interchange Project Nears — In March, we were told that the lane closure on westbound Route 50 would finally be lifted by around this time. That’s still yet to be seen, but some new closures are just around the corner. Dr. Gridlock reports that VDOT plans to start construction on a new Route 50/Courthouse Road/Fairfax Drive interchange next month, with nightly traffic disruptions. The $39 million project is expected to wrap up in Fall 2013. [Dr. Gridlock]

Arlington’s Fuel Bill Going Up — Arlington County could spend hundreds of thousands of additional dollars on gasoline this year, thanks to rising gas prices. The county’s vehicle fleet — which includes fuel-sipping Toyota Priuses — consumes about a million gallons of gas every year. [Washington Examiner]

Emergency Personnel Honored for Valor — The Arlington Chamber of Commerce held its 29th annual Valor Awards ceremony on Tuesday. The event honored police, sheriff, fire and EMS personnel whose selfless work has saved lives. Among those honored was Jason Hart and Mark Jaquays, who managed to save the life of a young man who was painting a house last summer when his ladder touched a power line. [Sun Gazette]

Real Estate Prices Up, Inventory Down –– The sale price of Arlington residential real estate surged last month. Condos and townhouses in particular were both up by double digit percentages. Also, real estate inventory was down significantly compared to 2010. [Arlington Real Estate News]

Flickr pool photo by Aaron Webb

BREAKING NEWS — Budget Will Hold Tax Rate Steady

By ARLnow.com

Arlington County’s real estate tax rate will be held steady for the next year, according to final budget guidance issued by the County Board.

At a work session yesterday, the board instructed County Manager Barbara Donnellan to hold the tax rate steady at 95.8 cents per $100 in the final budget.

“They’re sticking with their initial guidance of no real estate rate increase,” county spokeswoman Mary Curtius confirmed this morning.

Donnellan’s proposed budget had recommended holding the tax steady, but the board gave itself some wiggle room in February when it advertised a slightly higher tax rate. Even without a real estate tax rate increase, however, the county’s coffers will be bolstered in FY 2012 by a 6.3 percent rise in property assessments.

The board will vote on its final budget on Saturday.

Eads Street Post Office to Move in May

By ARLnow.com

(Updated at 4:10 p.m.) The Post Office at S. Eads Street and 18th Street in Aurora Highlands will soon be moving to a new location.

The office will be moving into the ground floor of the Millennium at Metropolitan Park apartment building (above), across from the Costco on S. Fern Street in Pentagon City. The move was originally scheduled for late April, but we’re now told it will likely take place in May.

The Post Office will fill retail space that has been vacant for about a year, since the building was built. At last check, a space designated for a restaurant in the next-door Metropolitan at Pentagon City complex has still not been leased.

According to the 2050 Crystal City Sector Plan, the Eads Street Post Office site is slated for possible residential redevelopment.

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